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Marketing Chapter 3 Notes

by: Melanie Guerrero

Marketing Chapter 3 Notes MAR 250

Marketplace > Pace University > Marketing > MAR 250 > Marketing Chapter 3 Notes
Melanie Guerrero
GPA 3.43
Principles of Marketing (20335)
Harvey Markowitz

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About this Document

Detailed notes covering all of chapter 3. Includes all the vocabulary on a separate sheet for easy studying.
Principles of Marketing (20335)
Harvey Markowitz
Class Notes
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This 3 page Class Notes was uploaded by Melanie Guerrero on Sunday February 21, 2016. The Class Notes belongs to MAR 250 at Pace University taught by Harvey Markowitz in Winter 2016. Since its upload, it has received 14 views. For similar materials see Principles of Marketing (20335) in Marketing at Pace University.


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Date Created: 02/21/16
I n39 This file was edited using the trial version of Nitro Pro 7 Buy now at wwwnitropdfcom to remove this message the market Blended family one formed by merging two previously separated unites into a single household Competition refers to the alternative rms that could provide a product to satisfy a speci c market s needs Consumerism a movement used to increase the in uence power and rights of consumers in dealing with institutions Culture the set of values ideas and attitudes that are learned and shared among members of a group Demographics age gender ethnicity income and occupation Discretionary income the money that remains after paying for taxes and necessities Disposable income the money a consumer has left after paying taxes to use for necessities such as food housing clothing and transportation Economy the income expenditures and resources that affect the cost of running a business and household Electronic commerce any activity that uses some form of electronic communication in the inventory exchange advertisement distribution and payment of products and services Environmental scanning the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends Generation X 50 million people born between 1965197 6 aka Baby Bust Generation Y 72 million American born between 197 7 1994 aka Echoboom Gross income the total amount of money made in one year by a person household or family unit Marketspace an information and communication based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technology and digitized offerings Multicultural marketing combinations of the marketing mix that re ect the unique attitudes ancestry communication preferences and lifestyles of different races Regulation consists of restrictions state and federal laws place on business with regard to the conduct of its activities Selfregulation where an industry attempts to police itself Social forces the demographic characteristics of the population and its culture Technology innovations or inventions from applied science or engineering research Value Consciousness the concern for obtaining the best quality features and performance of a product or service for a given price I n39 This file was edited using the trial version of Nitro Pro 7 Buy now at wwwnitropdfcom to remove this message 4 Competitive 5 Regulatory B An environmental scan of today s marketplace 1 Social forces v0cab C Demographics 1 The world population at a glance 2 The US population 3 Generational Cohorts a Baby boomers V0cab b Generation X V0cab c Generation Y V0cab 4 The American household a Blended family v0cab 5 Population shifts a Metropolitan statistical area b Metropolitan statistical area urban area population of at least 10k but less than 50k 6 Racial and Ethnic diversity a Multicultural marketing v0cab D Culture 1 The changing attitudes and roles of men and women 2 Changing values a Value consciousness v0cab 11 Economic Forces A Macroeconomic conditions 1 GDP gross domestic product 2 Unemployment 3 Price changes in ation or de ation B Consumer Income 1 Gross Income v0cab 2 Disposable Income v0cab 3 Discretionary Income v0cab III Technological Forces I n39 This file was edited using the trial version of Nitro Pro 7 Buy now at wwwnitropdfcom to remove this message B Electronic Business technologies 1 Marketspace v0cab 2 Electronic commerce v0cab IV Competitive Forces A Alternative Forms of competitions 1 Pure competition 2 Monopolistic competition 3 Oligopoly few companies control the majority of industry sales B Components of competition 1 Entry 2 Power of buyers and suppliers 3 Existing competitors and substitutes C Small businesses as competitors 1 Regulation v0cab D Protecting Competition AVOID 1 Contracts combinations or conspiracies in restraint of trade 2 Actual monopolies or attempts to monopolize any part of trade or commerce E Productrelated legislation 1 Consumerism vocab F Pricingrelated legislation 1 Quantity discounts are acceptable 2 Price xing is illegal G Distributionrelated legislation 1 Requirement contracts 2 Exclusive territorial distributorships 3 Tying arrangement F Advertising and Promotionrelated legislation 1 Deceptive Mail Prevention and Enforcement Act 2 Telephone Consumer Act G Control through selfregulation l Selfregulation v0cab


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